MIAMI-With news that Rialto Capital Advisors, Lennar Corp.’s distressed assets subsidiary, closed a real estate investment fund worth $300 million in equity commitments at the end of November, distressed asset real estate practices are expecting the next wave of activity.

Continental Real Estate Companies (CREC) is one of those companies. CREC has more than 25 receiverships in place and is also managing workouts. Warren Weiser, chairman and co-founder of CREC, expects the distressed asset market to be one of the biggest commercial real estate stories in 2011, with Lennar and others working to clean up properties.

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